General Electric Co. (GE) Stake Decreased by Cwm LLC
Cwm LLC lowered its stake in General Electric Co. (NYSE:GE) by 36.4% during the second quarter, Holdings Channel reports. The institutional investor owned 89,442 shares of the company’s stock after selling 51,287 shares during the period. Cwm LLC’s holdings in General Electric were worth $2,816,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of the company. Patten & Patten Inc. TN increased its stake in shares of General Electric by 1.5% in the second quarter. Patten & Patten Inc. TN now owns 640,718 shares of the company’s stock worth $20,170,000 after buying an additional 9,512 shares during the period. Baxter Bros Inc. acquired a new stake in shares of General Electric during the second quarter worth about $11,436,000. Howland Capital Management LLC increased its stake in shares of General Electric by 7.6% in the second quarter. Howland Capital Management LLC now owns 1,255,577 shares of the company’s stock worth $39,526,000 after buying an additional 89,178 shares during the period. Osborn Rohs Williams & Donohoe Ltd increased its stake in shares of General Electric by 1.2% in the second quarter. Osborn Rohs Williams & Donohoe Ltd now owns 290,268 shares of the company’s stock worth $9,138,000 after buying an additional 3,405 shares during the period. Finally, Cacti Asset Management LLC increased its stake in shares of General Electric by 1.2% in the second quarter. Cacti Asset Management LLC now owns 97,525 shares of the company’s stock worth $3,070,000 after buying an additional 1,175 shares during the period. Hedge funds and other institutional investors own 55.81% of the company’s stock.
Shares of General Electric Co. (NYSE:GE) traded up 0.42% during midday trading on Friday, hitting $28.89. 28,181,380 shares of the company traded hands. The stock has a market capitalization of $258.89 billion, a P/E ratio of 24.42 and a beta of 1.15. The company has a 50-day moving average price of $29.97 and a 200-day moving average price of $30.69. General Electric Co. has a 52 week low of $27.10 and a 52 week high of $33.00.
General Electric (NYSE:GE) last issued its earnings results on Friday, July 22nd. The company reported $0.51 EPS for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.05. The business had revenue of $33.49 million for the quarter, compared to the consensus estimate of $31.76 billion. General Electric had a net margin of 9.14% and a return on equity of 15.04%. The company’s revenue for the quarter was up 14.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.31 EPS. Analysts anticipate that General Electric Co. will post $1.50 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 25th. Shareholders of record on Monday, September 19th will be paid a $0.23 dividend. The ex-dividend date is Thursday, September 15th. This represents a $0.92 dividend on an annualized basis and a yield of 3.18%. General Electric’s dividend payout ratio is currently 77.97%.
A number of equities research analysts recently issued reports on the company. Oppenheimer Holdings Inc. reiterated a “market perform” rating on shares of General Electric in a research report on Tuesday, June 28th. Vetr raised General Electric from a “sell” rating to a “hold” rating and set a $31.67 target price on the stock in a research note on Thursday, July 21st. TheStreet raised General Electric from a “hold” rating to a “buy” rating in a research note on Friday, July 22nd. Credit Suisse Group AG reissued a “buy” rating on shares of General Electric in a research note on Saturday, July 9th. Finally, Zacks Investment Research raised General Electric from a “hold” rating to a “buy” rating and set a $33.00 target price on the stock in a research note on Tuesday, September 27th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $32.79.
In related news, Chairman Jeffrey R. Immelt bought 50,000 shares of the company’s stock in a transaction on Tuesday, July 26th. The shares were acquired at an average cost of $31.45 per share, for a total transaction of $1,572,500.00. Following the purchase, the chairman now directly owns 2,198,688 shares of the company’s stock, valued at $69,148,737.60. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. 0.23% of the stock is currently owned by company insiders.
About General Electric
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